The third major credit ratings agency has weighed in on Alaska’s fiscal health.
New York-based Fitch Ratings announced Tuesday morning that it is lowering the state’s long term credit rating from AAA — its highest rating — to AA+, citing the state’s massive budget gap.
It follows downgrades earlier this year from the other two major ratings agencies, Standard and Poor’s and Moody’s Investors Service.
The credit downgrades will make it more expensive for the state to borrow money in the future.
All three agencies have said they expect Alaska’s rating to slip lower if oil prices remain low and the state continues to rely solely on savings to cover the deficit.
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- The tribes sounding the alarm stretch from Yakutat to Bellingham. It came out of a three-day summit hosted by the Lummi Nation near Ferndale, Washington.
- “If I hadn’t intervened, I’m certain that they would have killed her,” Kenny Brewer said of the river otters that attacked Ruby, his 50-pound husky mix.
- Officials from the Denaina community of Eklutna filed the lawsuit seeking to open a hall in Chugiak.
- The law firm, Consovoy McCarthy, has strong ties to President Donald Trump and conservative legal causes nationwide. It's fighting Alaska unions.